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3-Year Rate Riser CD Truth-in-Savings Disclosure
Interest Rate
Rate:
.75%
APY:
.75%
The Interest Rate and the Annual Percentage Yield may change. At your discretion, you may change the interest rate on the account once per each 3 year term length. You will be given the rate offered on our existing 3 year CD product at the time you choose to change your rate. We may change the interest rate upon your renewal of the CD.
The balance on which interest is calculated for your account is determined by the daily balance method.
Interest will be compounded daily.
Interest will be credited at maturity.
Maturity
Your account will mature in three years.
This account will automatically renew at maturity. If you withdraw any of the principal before the maturity date, we may impose a penalty of an amount equal to 180 days interest. You will have ten business days after the maturity date to withdraw funds without penalty. If you do not withdraw the funds, each renewal term will be for an identical period of time as the original term.
Minimum Deposit, Time and Balance Requirements
To open this account, you must deposit $500. You may not make additional deposits into this account. You may not make withdrawals from your account until the maturity date.
To earn the annual percentage yield shown, your entire balance must remain on deposit for at least three years.
The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.
Transaction Limitations
You may not make withdrawals from or deposits into this account until maturity.
If you withdraw any funds before maturity, your account will be charged an early withdrawal penalty in an amount equal to 180 days interest. This early withdrawal penalty may invade principle.
You may make additional deposits to this account within 10 business days after the date of maturity.
If you do not withdraw the funds, each renewal term will be for an identical period of time as the original term, or you may choose to change the term length within 10 business days after the date of maturity. If you choose to close this account within 10 business days after the date of maturity, no accrued interest will be paid. If you choose to change the term length within 10 business days after the date of maturity, accrued interest will be paid at the interest rate applicable to that earned by the account prior to the change in term length.
Additional Fees and Terms
Interest begins to accrue on the business day you deposit non-cash items (e.g., checks). Interest will be compounded daily and will be credited to the account at maturity.
Balance Computation Methods
We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. We will use an interest accrual basis of 365 for each day in the year. You must maintain a minimum balance of $500.00 in the account each day to obtain the disclosed annual percentage yield.
Schedule of Fees and Charges
| Automatic Overdraft Transfer | $5 |
| Closing an Account (0-90 days) | $25 |
| Overdraft Fee* | $30 |
| Return Item Fee | $30 |
| Stop Payment (Per Item) | $30 |
| Returned Deposited Item | $5 |
| Statement of Account - Instant | $1 |
| Statement of Account - Duplicate | $3 |
| Statement of Account - Special | $5 |
| Dormant Account Fee | $10 |
*Overdraft Fee may be caused by check, in-person withdrawal, ATM withdrawal (only applies if you have opt'd in), everday debit card transactions (only applies if you have opt'd in), or other electronic means.
